Legal Opinion
Glens Falls National Bank v. Nostrand
New York Supreme Court
Decided October 15, 1903PublishedCited by 3 opinions
Action upon an agreement of guaranty.
1Opinion of the CourtSpencer, J.
In May, 1901, the firm of Samuel D. Davis & Oo., bankers, issued a circular letter to their creditors by which it appeared that their liabilities exceeded their assets by $1,324,012.81. It contained a proposition to compromise *527their debts at ten cents on the dollar, conditioned upon its acceptance by all their creditors. They owed the plaintiff $54,750. A part of this debt consisted of a past due, protested promissory note, made by the Railroad Equipment Co., indorsed by Samuel D. Davis & Co., and upon which there remained unpaid, the sum of $7,750. A large number of the creditors signed the…
2Cases cited9 opinions
- Bliss v. . MattesonNew York Court of Appeals · 1871
- Solinger v. . EarleNew York Court of Appeals · 1880
- White v. . KuntzNew York Court of Appeals · 1887
- Hanover National Bank v. BlakeNew York Court of Appeals · 1894
- Russell & Hall v. RogersNew York Supreme Court · 1833
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3Cited by3 opinions
- Painter v. FletcherAppellate Division of the Supreme Court of the State of New York · 1918
- Glens Falls National Bank v. Van NostrandAppellate Division of the Supreme Court of the State of New York · 1905
- Jacobs v. SiffAppellate Terms of the Supreme Court of New York · 1911